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Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran in the global oil market, things might not necessarily pan out this way. As the world is gradually getting used to the idea that Iranian sanctions will be lifted, over the past few months further progress has been made in terms of legislation. According to the latest weekly report from shipbroker Gibson, “firstly, the US Congress failed to block the Iran nuclear deal reached in summer 2015. Secondly, the same deal has been approved by the Iranian parliament. The latest news is that on the 18th of October US authorities approved conditional sanctions waivers for Iran (known as Adoption Day). These waivers will only take effect after Iran complies with its commitments and this is verified by the IAEA (Implementation Day)”.
However, the question of how quickly will this happen, needs to be answered. According to Gibson, as per “several senior US officials, the Implementation Day is at the very least two months away; while most industry experts are of opinion that this is unlikely to happen before the first quarter of next year. If and when Iranian sanctions are lifted, it will have important implications for global oil markets. As it is, the world is awash with crude, following OPEC’s policy to defend its market share. At the same time, US crude oil production is not falling fast enough to balance supply and demand, despite prices remaining low. Finally, concerns are intensifying about the health of world economy, leading to lower expectations for global oil demand growth next year. In these circumstances, if Iran is able to rapidly increase its production and exports, this will only add more crude to an already heavily oversupplied market”.
The shipbroker added that “undoubtedly, this year the overhang of crude oil has fuelled tanker markets not only in terms of supporting trade, but also leading to additional storage requirements and loading/discharge delays. As such, any increase in Iranian exports will at the very least elevate these inefficiencies in tanker transportation, supporting tight supply/demand balance. However, there are also concerns about the Iranian fleet, which will become internationally operational and is likely to compete aggressively in the conventional tanker market when sanctions are lifted”.
According to Gibson, “as of now, 37 VLCCs, 9 Suezmaxes and 5 Aframaxes are under control of the National Iranian Tanker Company (NITC). However, about half of the fleet is already employed, largely shipping Iranian crude to a limited number of international buyers (although there is some scope here for efficiency gains, such as faster speeds and reduced waiting time). The rest of the NITC fleet is used for crude/condensate storage, with the latest count at 20 units under the NITC control and 5 by other owners. If the nuclear dispute is resolved, a number of VLCCs used for storage, will continue doing so for operational/marketing reasons as was the case prior to sanctions”.
The shipbroker also noted that “as such, essentially only those tankers which will be released from storage duties will be in position to provide an incremental boost to tanker supply. It could take some time for these ships to meet international standards in terms of class and insurance. Furthermore, many units are likely to require dry docking. On this basis, the process of “re-entry” will be gradual. Finally, if Iran succeeds in rapidly increasing its production and in significant volumes, this would provide additional demand for the NITC fleet, limiting further the threat of competition to the international tanker supply”, Gibson concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- GMR Energy Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
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